🤓🚀 Your Uncle Jeff & "dark oxygen"

Good morning! The Olympics are in full swing, which means your Uncle Jeff is once again a fencing expert.

Anyways, let's take a look at this week's trending content.

TRIVIA

What was the original name of the popular video streaming service YouTube when it was first founded?

A. TuneIn
B. Streamster
C. VideoShare
D. YouVideo

‍

NEWS

Headlines 👀

⌛ Small Business Bankruptcy on Pace for Worst Year Since 2010: This Industry is the Worst - Small and mid-sized businesses are facing tough times in 2024, with a significant rise in bankruptcy filings. In the first half of the year, 346 companies filed for bankruptcy, the highest level since 2010. June alone saw 75 filings, the most since early 2020. Many of these bankruptcies are in the "consumer discretionary" sector, including restaurants, clothing stores, and car dealerships. High interest rates and tight credit are major pressures, making it hard for small businesses to borrow money for essential operations. Declining consumer demand and supply-chain issues are also contributing to the challenges, pushing many businesses to the brink of bankruptcy.

📈 US Economy Beats Q2 Expectations - The U.S. economy grew strongly in the second quarter of 2024, with a 2.8% annualized rate, surpassing the expected 2.1%. This growth shows solid consumer spending and business investments. Inflation eased slightly, with the PCE price index rising by 2.6% and core PCE by 2.9%. However, the personal savings rate dropped to 3.5%, and while jobless claims fell by 10,000, indicating a stronger labor market, these mixed signals may influence future Federal Reserve policies.

🌱 SBA Expanding Flagship Loan Program for Green Businesses - The SBA is expanding its loan programs to support green startups. The SBA's 7(a) loan program will now cater to businesses focused on renewable energy, energy efficiency, and other climate-friendly projects. This initiative aims to help green startups overcome financial barriers with competitive interest rates and extended repayment terms. SBA Administrator Isabella Casillas Guzman highlights this move as crucial for economic growth and climate change efforts, providing better access to funding for environmentally sustainable businesses.

‍

From Bill.com

Take a demo, get a Blackstone Griddle

Financial operations heating up? BILL Spend & Expense can help you take control. Automate expense reports, set budgets across teams, and get real-time insights into company spend. Take a demo to learn how and we'll give you a 28" Blackstone Omnivore Griddle—so you can take control of your next barbecue, too.

Request a demo

‍

FEATURED

Mundane Millionaires: Chris Powers

In this episode of Mundane Millionaires, we welcome Chris Powers, the Founder and Executive Chairman of Fort Capital. Chris is a serial entrepreneur whose company has invested over $2.1B in Class B industrial, commercial, multifamily, student housing, and land development projects throughout the state of Texas and the Sunbelt.

Chris also host the podcast The FORT, which hosts entrepreneurs, Founders, CEOs, and Executives from some of the leading companies in America like Chick-fil-a, Morning Brew, Bonobos, and more.

Listen now

‍

FINANCE

How to Determine the Value of Your Business 🏷️

One of the most critical tasks for a small business entrepreneur is determining the worth of their business. Knowing how much your business is worth serves several purposes—whether you're looking to sell, attract investors, or plan for the future. This comprehensive guide will aid you in understanding the various business valuation methods available, their pros, and cons, and help you determine which one best suits your needs.

Continue reading

‍

OPERATIONS

A Step-by-Step Guide to Actually Create a Budget for Your Business 🪜

Creating a budget for your small business is not just about crunching numbers; it's about planning for the future, making informed decisions, and ensuring your business's financial health. Whether you're launching your startup or refining the financial approach of your existing business, here's a step-by-step guide to help you create a budget that sets the pathway for success.

Step 1: Understand Your Current Financial Situation

Before you can create a budget, you need to understand your current financial standing.

Continue reading

• Before you pick a business partner, read this.
• Ever wonder why celebrity spirits are suddenly everywhere?
• How Peter Thiel Turned $2,000 into a $5 Billion Tax-Free Piggy Bank

See more great tweets

‍

FUN STUFF

🔬🔬 Scientists discover ‘dark oxygen’ - this could change everything we know about life on Earth

🍗🍗 Wait…what? Chicken wings advertised as ‘boneless’ can have bones, Ohio Supreme Court decides

🎞️🍿  ‘Inside Out 2’ is now the highest-grossing animated movie of all time, surpassing ‘Frozen II’

🥇🥈 The “Gold Zone” is changing the way we watch the Olympics, and I’m 100% here for it

‍

TRIVIA ANSWER

D. YouVideo